There has been a persistent deficit budget year after year. Which of the following actions can be taken by the government to reduce the deficit? 1. Reducing revenue expenditure 2. Introducing new welfare schemes 3. Rationalizing subsidies 4. Expanding industries Select the correct answer using the code given below.
a
1 and 3 only
b
2 and 3 only
c
1 only
d
1, 2, 3 and 4
Public FinanceFiscal Deficit Managementpersistent deficit budgetreduce the deficitReducing revenue expenditureIntroducing new welfare schemesRationalizing subsidiesExpanding industriesfiscal policy